Shelbourne Hotel Operator Sees Losses Triple
Published on Aug 28 2013 2:19 PM in Hotel
The company that manages five-star hotel Shelbourne, Torriam Hotel Operating Company, saw its pre-tax losses almost triple last year.
While revenue at the hotel increased from €9.4m to €9.96m during the period of reportage, accounts just filed with the Companies Office by Torriam Hotel Operating Company, a subsidiary of global hotel giant Marriott International, show that the group's pre-tax losses increased from €104,282 to €301,122.
The increased losses were largely due to net bank interest payments which increased from €190,796 to €285,364.
Numbers employed at the hotel also increased from 357 to 384 last year, with staff costs increasing from €9.3m to €9.9m.